At the beginning of September, Selena Cantu started Cantu Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money. On September 30, the accounting records of the business showed the following information. Cash $ 67,600 Accounts Receivable 9,400 Office Supplies 8,200 Office Equipment 76,400 Accounts Payable 12,800 Selena Cantu, Capital, September 1, 2019 54,800 Fees Income 157,200 Advertising Expense 14,400 Salaries Expense 33,400 Telephone Expense 3,000 Withdrawals 12,400 Required: Prepare a statement of balance sheet for the month of September and a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019.
At the beginning of September, Selena Cantu started Cantu Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money. On September 30, the accounting records of the business showed the following information. Cash $ 67,600 Accounts Receivable 9,400 Office Supplies 8,200 Office Equipment 76,400 Accounts Payable 12,800 Selena Cantu, Capital, September 1, 2019 54,800 Fees Income 157,200 Advertising Expense 14,400 Salaries Expense 33,400 Telephone Expense 3,000 Withdrawals 12,400 Required: Prepare a statement of balance sheet for the month of September and a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019.
Chapter16: Accounting Periods And Methods
Section: Chapter Questions
Problem 33P
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At the beginning of September, Selena Cantu started Cantu Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money. On September 30, the accounting records of the business showed the following information.
Cash | $ | 67,600 | |
9,400 | |||
Office Supplies | 8,200 | ||
Office Equipment | 76,400 | ||
Accounts Payable | 12,800 | ||
Selena Cantu, Capital, September 1, 2019 | 54,800 | ||
Fees Income | 157,200 | ||
Advertising Expense | 14,400 | ||
Salaries Expense | 33,400 | ||
Telephone Expense | 3,000 | ||
Withdrawals | 12,400 | ||
Required:
Prepare a statement of balance sheet for the month of September and a balance sheet for Cantu Wealth Management Consulting as of September 30, 2019.
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